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Tuesday, January 8, 2013

Consolidation continued..

The market didn't like my micro-count so it continued its wave 4/sideways move today. However, whatever the count might be, the result is the same which is higher highs ahead. Also, unlike the last couple of sessions, the MACD I track started a positive crossover today and that has a 66% success record in predicting more upside when the market trades above the TA. So we shall see in the next session or two.. lastly, as I said yesterday the fact there is a lack of a bearish impulse to the Fib retrace area in the last few days after the big Fiscal Cliff rally means the possibilities are high we get a substantial higher high. Maybe the market needs the earnings reports or actually the projections for the year to start another rally.

Main S&P 500 Trends

Short Term Trend = Bullish

Medium Term Trend = Bullish

Long Term Trend = Bullish

Long Term Portfolio

90% Long in Red Chips traded in HSI (Mainland China stocks traded in Hong Kong) since September 2012. Only position trading 30-40% of portfolio for cost improvement. - Sold 10% on 12/27/12

Closed position 500 @ 18.26 on 11/20/2012. Sold 500 @ 17.79, raised stop to break even on the other 500 as of 11/19/2012. Bought 1000 XIV @15.98 as of 11/15/2012 on margin - position trade cost improvement 4 cents, so net cost $15.94 as of 11/16/2012 - Profit = $2.05

Net Profit since 11/08/2012 on open and closed short term positions = $2,625*

* Margin position is usually $15-20k

* Margin position in gold is $4k

Retirement Goal

As of 01/02/2013 - 13.5%** Percentage gain for total liquid portfolio that started in September 2012, Goal is to double portfolio for retirement by September 2015, with 100% being the ideal retirement level.